Stagecoach's rail and bus units cruise higher

Transport group Stagecoach said current trading remains good and it expects to at least maintain operating profit levels in the year to 30 April 2013.

The group, which recently introduced it Megabus brand into Europe with services running from London, Paris, Amsterdam and Brussels from as little as £1 or €1, said like-for-like revenue at its UK Bus operations rose 2.7% in the forty eight weeks ended 1 April 2012. Its bus division carries over two million passengers each day on over 8,000 vehicles.

UK Rail (excluding tram businesses) saw 8.8% growth for the period while revenue at its North America business, including megabus.com, increased 14% in the eleven months ended 31 March 2012. Virgin Rail revenue climbed 7.9% in the forty eight weeks ended 1 April 2012.

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Stagcoach said overall profitability has remained good and remains upbeat about future trading.

"We believe the prospects for the group remain positive and that each of the Group's wholly owned divisions remain well placed to at least," it said in a pre-close trading update.

CJ